6 days ago
US July budget deficit up 20% year-over-year despite record Trump tariff income
WASHINGTON — The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump's tariffs, according to Treasury Department data released Tuesday .
The U.S. saw a 273% increase — or $21 billion — in customs revenue in July over the same period last year, the data showed.
